Open Banking

Share your data safely with Open Banking

What’s Open Banking?

Open Banking is part of the Consumer Data Right, which was introduced after the Australian Government passed legislation to give consumers better access and control over their personal financial data across organisations. Open Banking gives you the ability to share your banking information with accredited third parties – making it easier for you to manage, compare and switch banking products and services.

Benefits of Open Banking

Open banking allows you to manage your finances across organisations easier, compare products and more, in a consolidated view. Through Open Banking you can safely share your personal financial data between trusted organisations and third-party apps.

You can also view and search a list of accredited providers who can receive or hold your data. See the list of current providers

Consumer Data Right policy

View our policy on how we deal with your data.

FAQs

  • Am I automatically opted in to Open Banking?

    No. Selected data will only be shared with accredited third parties once you have authorised it.

  • What data can I share?

    You can share your account summary, balances and transaction history and more for open accounts such as:

    • Credit or debit cards
    • Term deposits
    • Transaction and savings accounts
  • How do I share my data?

    Your Bank First data will only be shared with accredited third parties once you have authorised it. After you’ve authorised a third party to access your data, you can revoke that access at any time and ask for your data to be deleted.

  • How do I stop sharing my data?

    You can use Internet Banking to revoke your permission to share data at any time and ask for your data to be deleted. 

    To revoke permissions:

    1. Login to Internet Banking.
    2. Select Services > Data sharing.
    3. Select the third party you wish to revoke permissions.
    4. Select stop sharing.
    5. You will be prompted to review your decision. Select stop sharing to confirm.

    You can also revoke permissions by calling our contact centre.

  • How is my data protected?

    If you choose to share your information, there are strict rules and security protocols in place to protect it.

    All Open Banking participants that send and receive data must be accredited by the Australian Competition and Consumer Commission (ACCC). They have set strict accreditation criteria, as well as privacy and information security standards.

    Open Banking isn't mandatory – you'll have full control of your data and whether you want to participate. You'll never need to give your Bank First passwords to a third party.

  • I’m not happy with how my data is handled, what can I do?

    If you’re unhappy with the way your data is being handled, you can lodge a formal complaint to us in writing at info@bankfirst.com.au. You can also view our Complaints and Dispute Resolution Guide online for further information.

  • Where can I find out more?

    For more information, please refer to cdr.gov.au. Alternatively, you can call our customer service team on 1300 654 822. You may also view our Consumer Data Right policy online.

  • I’m a developer, how do I access your API?

    The Bank First Open Banking API enables third parties to access information about our products. It has been designed in accordance with the Australian Consumer Data Standards, under the Consumer Data Right. 

    Developers can access our product API below:

    Product API
    For a list of Bank First products that are currently offered to the market.

    API URL: https://ibank.bankfirst.com.au/openbanking/cds-au/v1/banking/products

    Product Details API
    For detailed information on a single Bank First product offered to the market.

    API URL: https://ibank.bankfirst.com.au/openbanking/cds-au/v1/banking/products/{Product ID}

    Consumer Details API

    API URL: https://developer.cdr.bankfirst.com.au/

    If you are experiencing any technical issues with the APIs, please email cdrteam@bankfirst.com.au.